The Hong Kong Monetary Authority announced that The Hong Kong Mortgage Corporation Limited (HKMC) has completed its largest-ever public benchmark bond offering, issuing multi-currency bonds totalling HK$25.3 billion (about US$3.3 billion equivalent) under its US$30 billion Medium Term Note Programme. The issuance was book-built and priced in Hong Kong on 18 November 2025 and comprised four tranches: a HK$10 billion two-year bond, a CNH 5 billion three-year bond, and a US$1 billion five-year bond in conventional format, plus a HK$2 billion 30-year Hong Kong dollar social bond. Peak demand was around HK$80 billion equivalent, with final allocations to about 250 accounts across local, Southbound Bond Connect and international institutional investors. The 30-year HKD social bond tranche was described as the largest 30-year HKD bond issuance in Hong Kong and the first social bond in Asia Pacific whose proceeds will support the HKMC’s Reverse Mortgage Programme; as at end-October 2025, the programme had received 8,776 applications, with an average property value of around HK$5.5 million and average monthly payout of around HK$15,900.
Hong Kong Monetary Authority 2025-11-25
Hong Kong Monetary Authority reports HKMC record HK$25.3 billion multi-currency public benchmark bond issuance
The Hong Kong Monetary Authority announced that The Hong Kong Mortgage Corporation Limited completed its largest public benchmark bond offering, issuing multi-currency bonds totaling HK$25.3 billion under its US$30 billion Medium Term Note Programme. The issuance included a HK$10 billion two-year bond, a CNH 5 billion three-year bond, a US$1 billion five-year bond, and a HK$2 billion 30-year social bond. The 30-year HKD social bond is the largest in Hong Kong and the first in Asia Pacific to support the HKMC’s Reverse Mortgage Programme.